RBM takes financial literacy to Neno

The Reserve Bank of Malawi on Wednesday and Thursday met the district executive committee and area development committee of Neno to sensitize them on budgeting, investments, savings and capital for business.

08March

RBM's Chief Examiner for Consumer Protection, Madalitso Chamba said under financial literacy program, they want to create and promote awareness among individuals and institutions on financial knowledge and understanding on financial management that include budgeting, investments, savings, and capital for businesses.

She said clear understanding and knowledge about financial matters can contribute to improved efficiency, transparency, competition and access to retail financial markets by reducing power imbalances between providers and users of financial services.

Director of Chiefs in the Ministry of Local Government and Rural Development, Charles Thombozi, urged participants to change their mindset and adopt what was learnt at the meeting emphasizing on saving and investment.

"I attended a meeting of similar nature recently and started practicing, and I want to tell you that I am not the same, I wish I had started earlier I would have been somewhere.

"It doesn't necessarily mean you should have much to save, the little you get can be a starting point," said Thombozi.

Thombozi added, "Let me ask you to assist in delivering the message elsewhere you may go so that more Malawians benefit.

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